NJEDA Approves $10Million Small Business Liquor License Grant Program
Grant funding will unlock inactive licenses, supporting Governor Murphy’s initiative to reform antiquated liquor license laws.
ATLANTIC CITY, N.J. (November 20, 2024) – The New Jersey Economic Development Authority (NJEDA) Board approved the creation of the Small Business Liquor License Grant Program. The new program, funded at $10 million, will provide up to $100,000 in grant funding to reimburse eligible small businesses that have purchased an inactive plenary retail consumption liquor license within the past 12 months, supporting the reactivation of over 1,300 inactive licenses.
“The Small Business Liquor License Grant program is an important step in removing financial barriers for our small businesses and will give them the opportunity to grow and transform their business with a liquor license,” said Governor Phil Murphy. “I was proud to sign legislation earlier this year to overhaul New Jersey’s outdated liquor license laws. This is another step toward eliminating obstacles and helping small businesses thrive.”
“Under Governor Murphy’s leadership, the NJEDA has prioritized the support of small businesses through the Main Street Recovery Finance Program, ensuring that entrepreneurs across the state have the tools and funding they need to thrive,” said NJEDA Chief Executive Officer Tim Sullivan. “The Small Business Liquor License Grant will relieve the negative financial burdens of obtaining a liquor license, unlocking economic opportunity for restaurant owners and contributing to the post-pandemic vitality of New Jersey’s main streets.”
In January, Governor Murphy signed legislation overhauling the state’s outdated liquor license laws, which aims to increase the number of available liquor licenses statewide by revitalizing inactive licenses. The program will offer a reimbursement of 50 percent of the license purchase price not to exceed $100,000 to a New Jersey-based small business. The license must have been an inactive plenary retail consumption liquor license, as determined by the New Jersey Division of Alcoholic Beverage Control (ABC), and must remain active for a minimum of five years.
Forty percent of grant funding will be reserved for applicant businesses located in eligible Opportunity Zone census tracts. Applications are expected to open in early 2025. For more information, including eligibility requirements, click here.
The Small Business Liquor License Grant is part of a suite of programs offered under the Main Street Recovery Finance Program, which aims to support the growth and success of small businesses in New Jersey. For more information on the NJEDA’s small business support programs, click here.
About the NJEDA
The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.